Overdraft Protection Services

Get peace of mind with overdraft protection services

Overdrafts and returned items can happen when you write checks, make electronic payments, withdraw money, or make debit card purchases for more than the available balance in your account. TCF offers overdraft protection services and account alerts to help you manage your finances

Tips for avoiding or reducing deposit service fees

Overdrafts are expensive, and you should avoid them. The following tips may help you to avoid or reduce deposit service fees on your account, including overdraft and returned item NSF fees.

Some account types may have a monthly maintenance fee. You may be able to avoid monthly maintenance fees, depending on your account type, by meeting minimum transaction or balance requirements.

Check your account balance and transactions regularly to avoid overdrafts and related service charges. To do this, contact TCF Customer Service or go online. Please note that the order in which items are displayed in your account history is not the order in which these transactions are posted to your account. And remember that not all funds in your account may be available for immediate withdrawal or other use.

Record your check and debit card transactions in your register as soon as you make them and keep a current balance. Remember to anticipate and record any recurring automatic bill payments. Promptly adjust your register if you receive notice of an overdraft, NSF, or returned deposit. Don’t forget to deduct any related service charges. Reconcile your register to your monthly statement and promptly notify TCF of any errors or unauthorized transactions.

Use TCF ATMs to avoid fees that you would be charged when making withdrawals at non-TCF ATMs.

Notify TCF if you do not want us to pay any overdrafts on your account. To do this, contact us. Charges will apply for any items that TCF returns without paying.

Consider other TCF services that may be lower cost alternatives to overdrafts. You can enroll for a savings transfer service (a linked savings account), or apply for an overdraft protection line of credit at any TCF Bank location.

Overdrafts and returned items

When you write a check for more than your available account balance, you “overdraw” your account. You also overdraw your account when you use your debit card for a transaction that exceeds your available balance.

“Posting” is when TCF processes transactions to your account. “Posting order” is the order in which TCF processes transactions in a given business day. We post transactions nightly each business day. We first post deposits and incoming transfers that are made before the daily cutoff time. We then post withdrawals and outgoing transfers. Transactions may not be posted in the order in which they occurred. TCF may, at any time in the future, change the posting order on your account. The posting order on your account can affect the amount of overdraft and returned item NSF fees that you pay. Please refer to the section called “Order of Posting” in TCF’s Terms & Conditions for Checking and Savings Accounts for more information.

While overdrafts provide a benefit in occasional situations and emergencies, you should avoid them and not rely on them as a long-term source of credit. Alternative forms of credit may be less expensive and more suitable for your longer term financial needs. These may include credit card cash advances, overdraft lines of credit, personal loans, or lines of credit.

TCF charges a fee, called an overdraft fee, when it pays transactions that exceed your available balance. TCF also charges a fee, called a returned item NSF fee, for returning items without paying them. TCF charges the returned item NSF fee regardless of the amount of the item or your account balance.

Check your balance

You can check your account balance and transactions regularly by contacting TCF Customer Service at 1-800-TCF-BANK (823-2265) or 612-TCF-BANK (823-2265) in the Twin Cities or for hearing impaired (TDD) 1-800-343-6145 or 612-339-3075 or sign-in to online banking at tcfbank.com. However, this is not a substitute for keeping careful track of all your transactions.

Be aware of your available funds

Your available balance is the amount that is available for withdrawal from your account. Generally, your available balance is deposits minus withdrawals, transfers, debit card authorizations, and fees.

Checks you deposit are not immediately available for withdrawal. Therefore, part of any check you deposit may not be included in your available balance for a few days. See TCF’s funds availability schedule for more information.

When you use your debit card and TCF authorizes the transaction, TCF reduces your available balance by the amount of the authorization, even though the money does not come out of your account at that time. This reduction generally lasts for 3 business days unless the transaction reaches TCF for payment sooner.

When TCF reduces your available balance because of a debit card authorization, there is less money available to pay other transactions. This could cause your account to be overdrawn when it otherwise might not be.

Please note that debit card transactions can reach TCF for payment sooner than, or later than, 3 business days. They can also be for an amount different from the amount we authorized.

If you write a check for more than your available balance, one of several things could happen.

To determine if a transaction exceeds your available balance, TCF uses your available balance at the point in time that we process the transaction for payment against your account.

TCF can return the check without paying it and charge you a fee. This fee is called a “returned item NSF fee.” And the person or company that you wrote the check to – for example, a store or your credit card company – might charge you a “returned check fee” in addition to the fee we charge.

Or TCF can pay the check and charge you a fee. This fee is called an “overdraft fee.” Depending on your account type, this fee can be a per item fee or a daily fee.

If a check exceeds your available balance, it is up to TCF’s discretion to pay the item or not pay it. However, see below for your right to “opt-out.”

What happens if I initiate an electronic payment for more than my available balance?

Electronic payments from your account, called “ACH,” include such things as recurring monthly bill payments or one-time payments that do not involve use of a debit card.

Like checks, it is up to TCF’s discretion to pay, or not pay, any electronic payment that exceeds your available balance. In either case, TCF will charge you a fee. However, see below for your right to “opt-out.”

What happens if I use my debit card for more than my available balance?

Debit card transactions work somewhat differently than checks.

Once TCF approves (“authorizes”) a debit card transaction, it can generally take up to 3 business days for it to reach TCF for payment (“settlement”). So, while your available balance may be enough to cover a transaction when we authorize it, that does not mean it will be enough at settlement. If TCF authorized a transaction, we are required to pay it even though your available balance at settlement may not be enough to cover a transaction.

Here is an example of how this works. Say you have $100 in your account on day 1. That same day you write a check for $40. On day 2, you use your debit card to make a purchase for $80. Because you have enough money in your account at the time of the purchase, TCF authorizes it. Your available balance is now $20. On day 3, the $40 check is presented to TCF for payment, and TCF pays it. Your available balance is now negative by $20, and you incur an overdraft fee. On day 3, your $80 debit card transaction reaches TCF for payment. Because TCF previously authorized the transaction, we are required to pay it. Because your account is still overdrawn, you incur another overdraft fee (provided you have “opted-in,” as discussed below).

This can also work the other way around. Say you have $100 in your account on day 1 and use your debit card to make a purchase for $120. Even though the transaction exceeds your available balance, TCF authorizes it (provided you have “opted- in,” as discussed below). You do not incur an overdraft fee at this time. On day 2, you make a cash deposit for $30. On day 3, your $120 debit card transaction reaches TCF for payment. Because the transaction is for less than your available balance when it reaches TCF for payment, it does not overdraw your account. If you had not made the deposit, you would have incurred an overdraft fee.

Please note that some transactions using your debit card, such as ATMs and those using your PIN, can reach TCF for payment the same day or in as little as one day.

Manage Your Overdraft Service Options

TCF Overdraft Protection Transfer Service automatically transfers funds from your savings account to your checking account when items are posted to your checking account that may result in overdraft fees. The amount automatically transferred will be the amount needed to bring your checking account ledger balance to $0. Every time a transfer is completed, a service fee of $25 will be deducted from your savings account. Note: Your savings account must have enough funds to cover the transfer amount and service fee. To enroll, please request an Authorization Agreement for Overdraft Protection Transfer Service from any TCF Bank Representative.

TCF Overdraft Protection Line of Credit is an emergency line of credit, extended only when needed to cover items posted to your checking account in excess of funds available. If the balance available in your account is not enough to pay the amount of any withdrawal, an advance is made into the account in multiples of $300. Note: Your line of credit must have enough funds to cover the transfer amount. To enroll, please request a TCF Overdraft Protection Line of Credit application from any TCF Bank Representative. The application is subject to credit approval.

For all TCF consumer checking accounts you have the option to tell TCF not to pay overdrafts on your account. See below for more information.

If your account balance is not sufficient to cover your payments or purchases, TCF may charge a fee for overdrafts or returns. These fees will be based on either the number of items that exceed your available balance (per item) or the number of days that your account is overdrawn or has returns. Daily fees are charged for TCF Choice Checking. Per item fees are charged in all other account types. A TCF Representative can help you decide which account best fits your needs.

Even if you’ve never overdrawn your checking account, it’s always good to know you have choices. We offer alternative tools that can help you avoid overdrafts and bounced payments. To determine which service might be right for you, see below. To enroll or learn more about your options, please stop by any TCF branch or contact us at 1-866-823-4472.

TCF Overdraft Services FAQ

What if I do not want TCF to pay my ATM and everyday debit card overdrafts?

Federal regulations require banks to get your permission before paying ATM and everyday debit card overdrafts on consumer accounts when charging a fee.* This is called “opt-in.”

If you opt-in, it is up to TCF’s discretion to authorize or not authorize these transactions. TCF will charge a fee for any transactions resulting in an overdraft. Banks only need your permission once. Your permission is not required separately for each transaction.

Opting-in can have benefits, because it gives TCF the option (although we are not required) to approve transactions when your account is unexpectedly low on money, or when you know you will make a deposit later that day. But overdraft fees will apply.

If you do not opt-in, you may avoid unexpected fees on your account. However, TCF will not approve your ATM and everyday debit card transactions if they exceed your available balance at the time of the authorization.

Opt-in is not automatic. If TCF does not hear from you, you will not be opted-in.

* An “everyday” debit card transaction is any one-time, nonrecurring transaction using a debit card. Transactions you authorize in advance using your debit card, such as a monthly bill payment, are not considered everyday transactions. TCF relies on transaction coding provided by the merchant to determine if a transaction is recurring.

What if I do not want TCF to pay my overdrafts due to checks and electronic transactions?

You also have the option of telling TCF not to pay overdrafts on your consumer account due to checks, ACH transactions (such as electronic monthly bill payments) and electronic transfers not involving the use of your debit card. This is called “opt-out.”

If you opt-out, TCF will return transactions without paying them if they exceed your available balance. If you do not opt-out, it is up to TCF’s discretion to pay or not pay these transactions. TCF will charge you a fee for any overdrafts we pay, and for any items we return without paying.

Opt-out is not automatic. If TCF does not hear from you, you will not be opted-out.

Initially, your decision is made when you open your account. Stop by any TCF branch, log in to online banking, call us, or write TCF to change your decision. See the section below called "Contacting TCF" for our contact information. You can also opt-in at select TCF ATMs. Whatever you decide, you can change your mind later. Any written request you send TCF should include your name, address, date of request, account number(s), and overdraft decision.

What if I have more questions?

See your account disclosures and the disclosure called What You Need to Know about Overdrafts and Overdraft Fees for more information. TCF’s Account Management Help Desk can help you with these and other questions. You can contact our Account Management Help Desk. For more information on overdrafts and bank overdraft fees, visit tcfbank.com and click on “Customer Service and Resources,” then “Avoiding Overdrafts & Service Fees” and “Overdraft Protection Services.” TCF also offers an online course on numerous personal finance topics, including overdrafts. The TCF Financial Learning Center is available free of charge for TCF Bank customers at tcfbank.com/learning. After you enroll, click on the “Overdraft” training module to learn more about how overdrafts work.

The Account Management Help Desk can also provide information on other free or low-cost financial education workshops or individualized counseling to help you effectively manage personal finances.

Note: This document is for informational purposes and is not part of your account contract with TCF. In the event of any conflict between this document and your account contract, the terms of your account contract control.